Key Facts About
Colombia
Colombia
Language
Spanish (official, spoken by 99%+)
Population
51.5M (+0.9% yearly) – #3 in Latin America
Religion
74% Catholic + growing evangelical groups
Youthful
37.5% under 25 → median age 31.1 Young, dynamic workforce
Economy
Urbanization: 77% urban population
Growth: $7,630 GDP/capita (2022) – mid-tier in Latin America.3.5% GDP growth (2023).Key exports: oil, coal, coffee
Trade:Latin America’s #4 economy.China is #2 partner ($18B trade in 2023).Top trade categories: energy products, agriculture
Growth: $7,630 GDP/capita (2022) – mid-tier in Latin America.3.5% GDP growth (2023).Key exports: oil, coal, coffee
Trade:Latin America’s #4 economy.China is #2 partner ($18B trade in 2023).Top trade categories: energy products, agriculture
Survey of consumption
Pakistan's fintech market has great potential and stands out in promoting financial inclusion and popularizing digital payments. Cooperation with traditional banks can expand financial services coverage, improve the use of financial infrastructure, and encourage more people to join the formal financial system.
86%
Bank user penetration rate
62%
Credit card penetration rate
49.2%
Household debt ratio
Method of payment
Offline - Cash transactions:
The monetary unit is the Colombian peso (COP), and about 45% of offline transactions in 2023 will rely on cash, especially in small shops and markets.
Credit card/digital wallet:
Credit cards are the main online payment method, accounting for 35%; Digital wallets and mobile payments are becoming popular, accounting for 30%; PSE is commonly used, accounting for 20%; Bank transfer and others 15%
